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Restaurant Brands International Inc
OAKVILLE, ON, Aug.

2, 2017 /CNW/ . (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the second quarter ended June 30, 2017.
Daniel Schwartz, Chief Executive Officer of . ("RBI") commented, "In the second quarter, we continued to grow system wide sales and profitability for all three of our iconic brands. In particular, we had notable strength at BURGER KING, with both strong comparable sales growth and net restaurant growth. We also made good progress integrating POPEYES, and continue to be excited about the long term growth potential for the brand. We appreciate all of the hard work from our franchisees and their teams to deliver a great guest experience, and we are confident in our ability to create further value for all of our stakeholders for many years to come."
Comparable sales growth, in constant currency, of (0.8)% at Tim Hortons ("TH"), 3.9% at Burger King ("BK"), and (2.7)% at Popeyes Louisiana Kitchen ("PLK")
System wide sales growth, in constant currency, of 2.6% at TH, 10.6% at BK, and 3.3% at PLK
Adjusted EBITDA of $531.1 million was up 8.8% on an organic basis versus prior year combined results (including Popeyes)
Adjusted Diluted EPS of $0.51 versus $0.41 in prior year period
RBI declared dividends of $0.20 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the third quarter of 2017Commencing in 2017, we are presenting net restaurant growth on a percentage basis, reflecting the net increase in restaurant count (openings, net of closures) over a trailing twelve month period, divided by the restaurant count at the beginning of the trailing twelve month period. This presentation has been applied retrospectively to the earliest period presented to provide period to period comparability. Previously, we presented net restaurant growth as the number of new restaurants opened, net of closures, during a stated period. We have disclosed restaurant count at period end which can be used to determine net restaurant growth as previously presented.
Total Revenues for the second quarter grew primarily as a result of the inclusion of our PLK segment, as well as system wide sales growth at both TH and BK. Net Income Attributable to Common Shareholders for the quarter was driven by the inclusion of our PLK segment and growth in TH and BK segment income, offset primarily by an increase in other operating expenses.
Adjusted EBITDA for the quarter grew 8.8% on an organic basis versus prior year combined results (including Popeyes), louis vuitton purses tote driven primarily by revenue growth.
For the second quarter of 2017, system wide sales growth was driven by net restaurant growth of 4.3%, partially offset by a decline in comparable sales growth of (0.8)%, which was primarily driven by Canada comparable sales growth of (0.6)%.
Total Revenues for the quarter grew 1.6% (5.5% excluding the impact of FX movements) versus prior year, reflecting growth in system wide sales.
Adjusted EBITDA for the quarter grew 0.8% (4.7% excluding the impact of FX movements) versus prior year, primarily as a result of Total Revenues growth.
For the second quarter of 2017, system wide sales growth was driven by net restaurant growth of 6.0% and comparable sales growth of 3.9%, which was primarily driven by US comparable sales growth of 3.0%.
Total Revenues for the quarter grew 4.7% (5.8% excluding the impact of FX movements) versus prior year, reflecting growth in system wide sales.
Adjusted EBITDA for the quarter grew 8.3% (9.7% excluding the impact of FX movements) versus prior year, primarily as a result of Total Revenues growth.
For the second quarter of 2017, system wide sales growth was driven by net restaurant growth of 5.3%, louis vuitton large agenda replica partially offset by a decline in comparable sales growth of (2.7)%, which was primarily driven by US comparable sales growth of (3.3)%.
As of June 30, 2017, total debt was $11.8 billion, and net debt (total debt less cash and cash equivalents of $3.4 billion) was $8.3 billion. Our cash and cash equivalents reflects approximately $1.8 billion of proceeds from our May note offering and incremental term loan as well as approximately $0.8 billion of proceeds from the settlement and termination of our previous Canadian dollar cross currency swap. On August 2, 2017, the RBI Board of Directors declared a dividend of $0.20 per common share and Class B exchangeable limited partnership unit of Restaurant Brands International Limited Partnership for the third quarter of 2017. The dividend will be payable on October 3, 2017 to shareholders and unitholders of record at the close of business on September 15, 2017. Eastern Time on Wednesday, August 2, 2017, to review financial results for the second quarter ended June 30, 2017. callers, (866) 450 4696 for Canadian callers, and (412) 317 5475 for callers from other countries.
About .
. territories. RBI owns three of the world's most prominent and iconic quick service restaurant brands TIM HORTONS, BURGER KING, and POPEYES. These independently louis vuitton alma vernis amarante operated brands have been serving their respective guests, franchisees and communities for over 40 years.
This press release contains certain forward looking statements and information, which reflect management's current beliefs and expectations regarding future events and operating performance and speak only as of the date hereof. These forward looking statements are not guarantees of future performance and involve a number of risks and uncertainties. These forward looking statements include statements about the long term growth potential of the POPEYES brand and RBI's ability to create value for its stakeholders for years to come. federal securities laws or Canadian securities laws, we do not assume a duty to louis vuitton beverly briefcase update these forward looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.
Memo: Basic earnings per common share is determined by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding during the period.
For the three and six months ended June 30, 2017, diluted EPS of $0.37 and $0.57, respectively, includes $89.5 million and $139.

7 million of net income attributable to common shareholders and $86.1 million and $134.6 million of net income attributable to noncontrolling interests related to the Class B exchangeable limited partnership units of Restaurant Brands International Limited Partnership ("Partnership exchangeable units"), respectively.

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